CG Technology faces loss of Nevada Gaming License

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CG Technology, formerly Cantor Gaming, is back in the crosshairs of the Nevada Gaming Control Board (NGCB) once again and faces the potential loss of their gaming license.

The sportsbook operator has been accused of shortchanging sports gamblers a whopping $700,000 on winning round robin parlay bets.

A round robin allows a bettor to easily make multiple parlay bets using the same set of teams.

A software glitch apparently led to the underpayment in as many as 11,000 tickets, according to a report by ESPN. What's more, the software glitch caused $100,000 to be overpaid.

The Cosmopolitan, M Resort, and the Venetian are just a few of the Las Vegas sportsbooks that CG Technology oversees.

CG Technology was already on thin ice with Nevada's gaming officials following the indictment of former Vice President of sports and risk management Michael Colbert. CG Technology paid a $5.5 million fine to the Nevada Gaming Control Board for the infraction and later rebranded.

A change of name may be in the cards once again depending on the outcome of this matter.

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